DP World to sell stakes in Hong Kong assets for $742 mln

March 07, 2013|Reuters

DUBAI, March 7 (Reuters) - Dubai's port operator DP WorldLimited has agreed to sell stakes in two containerterminals and a logistics centre in Hong Kong for a totalconsideration of $742 million, it said in a statement onThursday.

The company will sell 75 percent of its stakes in containerterminals CSX World Terminals Hong Kong Limited and ATLLogistics Centre Hong Kong Limited (ATL) to Goodman Hong KongLogistics Fund for $463 million, it said in a statementon the Nasdaq Dubai website.

DP World is also selling all its 55.2 percent stake in AsiaContainer Terminal Ltd, which operates Asia Container Terminal 8West (CT8), to Hutchison Port Holdings Trust for $279 million.

The asset disposals are expected to result in a net gain of$151 million for DP World and help boost its capital levels, theport operator said.